New Zealand's productivity in a changing world
Empowered boards are central to unlocking innovation, capability and export-led growth.
This submission responds to the Ministry of Business, Innovation and Employment (MBIE) and Ministry of Foreign Affairs and Trade (MFAT) draft Long-term Insights Briefing (LTIB) on New Zealand’s productivity in a changing world. The IoD supports the LTIB’s focus on lifting productivity through high-value, globally connected activity.
Governance is central to turning policy intent into firm-level outcomes. While the draft LTIB outlines targeted and horizontal policy levers, it treats governance as a backdrop rather than a strategic tool. Boards are where purpose is tested, investment decisions are made and innovation is enabled. Recognising governance as a deliberate lever would better reflect the role directors play in shaping productivity.
This submission outlines how governance drives firm behaviour, and proposes ways to embed it more explicitly in the LTIB framework. It includes high-level insights and practical choices for government – ranging from strategic alignment and board culture, to capability, compliance and reporting. Governance belongs at the core of New Zealand’s long-term productivity approach.